Pearl Capital Business Funding, LLC.
www.PearlCapital.com
40 Exchange Place, Suite 301New York, NY 10005
(800) 888-9959
Social Sales for ISOsHow to use social media to win business.
July 2016
Follow Pearl Capital
Facebook.com/PearlCapitalBusinessFundingLLC
Twitter.com/Pearl_Capital
Instagram.com/PearlCapitalNYC
LinkedIn.com/Company/PearlCapitalBusinessFundingLLC
Social media accounts for Pearl Capital are managed by Grant Pastor
Introduction
Mike Langford
Twitter.com/MikeLangford
CEO, finservMarketingMike is a 22 year veteran of the financial services industry and a pioneer in the use of digital marketing for financial professionals in their practices.
http://www.finservmarketing.com/
The Opportunity
Why is Social Media Important for ISOs?
The Scale of Social
Time On Social
20%“Social Networking leads all categories in engagement, accounting for 1 out of 5 minutes spent online.
The strength of this category, along with Email and IM, highlights that one of digital’s primary functions is for communication –now more so than ever with the rise of mobile.”
~ comScore: 2016 U.S. Cross-Platform Future in Focus
Social20%
Social
Small Business Use of Social
20%Social
20%Social
82%93% 79%Inc. 500Small Businesses(<100 Employees)
B2BB2C
93% 79%71%
37% 15%40%66% 11%7%
Most Important Network
1. Source: 2016 Small Business Social Media Use: 5 Trends2. Source: Social Media Examiner’s seventh annual Social Media Marketing Industry Report
1
2
Even Whales Use Social
20%Social
20%Social
Millionaires Ultra High Net Worth• 60% watch videos of financial
commentators on the Internet.• 50% use Facebook. 21% visit 2 to
5 times per day.• 42% use LinkedIn.• 11% use Twitter. But…48% are
lurkers.• 24% look at how much a financial
firm shares on social before making a decision.
• 40% are willing to video chat with their financial professional rather than meet in person.
• 20% prefer email vs telephone.• Half of “mass affluent” are willing
to read blog posts made by financial professionals on Facebook.
Source: Spectrem Group: Using Social Media and Mobile Technology in Financial Decisions
The Urgency
Why Is Now The Right Time To Adopt a Social Sales Process?
The Google Effect
An Update to Our AdWords Policy on Lending Products
“We will no longer allow ads for loans where repayment is due within 60 days of the date of issue. In the U.S., we are also banning ads for loans with an APR of 36% or higher.”
May 11, 2016
Source: https://publicpolicy.googleblog.com/2016/05/an-update-to-our-adwords-policy-on.html
Constraints Drive Up Costs
The Pipe Got Smaller
Advertising space is limited. When supply is further constrained by restricting keywords and ad content the price for ads will rise.
Constraints Drive Effectiveness Down
A Smaller Pipe Narrows the Field of View
Business owners searching for a solution that your loan offerings might provide are less likely to see your ad.
Ads have always been hit-or-miss. Now they are likely to be
more miss than hit.
The ISO Sales Process is a Grind
Spend big for ads on deBanked, Google, etc..
Countless Cold Calls
Roaming the mall, endless chamber of commerce and BNI meetings.
Result: Too few loans at too high of a price for acquisition.
Social Sales
Improve Your Existing Sales Process With Social Media
Relationships = Sales + Referrals
“People do business with those they know, like, and trust.”
~ No one really knows who first said this
“True…but that’s not enough. People also need to be familiar with you and feel confident in your ability to deliver.”
~ Mike Langford
Small Investment of Time
What can you accomplish with 6 hours per week?• “By spending as little as 6 hours per week, 66%+ of marketers see lead
generation benefits with social media.”
• “More than half of those investing as little as 6 hours per week in social media were able to build new partnerships.”
• “Marketers selling to other businesses (B2B) were more likely to achieve this benefit (60%) than those selling to consumers (53%).”
Source: Social Media Examiner’s seventh annual Social Media Marketing Industry Report
Social Business Intelligence
Source: Social Media Examiner’s seventh annual Social Media Marketing Industry Report
Know Your CustomerSocial media is one of the greatest business intelligence tools of all time.
It’s more than another channel to blast with ads.
You can discover an endless supply of leads via tools like LinkedIn, Twitter, Facebook, Reddit, MeetUp, and others.
Be the first to know when a business is hiring, experiencing employee turnover, opening a new location, or other key business event that may lead to a need for your loan offerings.
A Simple Process
5 Steps to Social Sales Success
Connect
Build Your NetworkConnect with your existing clients, prospects, and referral partners via LinkedIn, Facebook, Twitter, and other social networks.
Ask people what social networks they prefer.
Start with your existing contact management system (such as Outlook) as a source for emails.
Categorize your connections with the list tools on Facebook and Twitter. Lists should include:•Clients•Prospects•Referral Partners•New & Information Sources•Industry Influencers
Friend, Follow, and Like individuals as
well as their business accounts.
Listen
Pay Attention to Your NetworkTurn cold calls into warm calls to friends.
People share what is important to them via social networks.
Listen for major life and business events that may indicate a need for your services.
Listen for opportunities to stay connected and get to know your network more intimately.
Listen for opportunities to solve problems via your referral network and beyond.
Listen for opportunities to amplify what others share.
Respond & Amplify
Engage When AppropriateComment on items that peak your interest.
Respond to requests for help.
Amplify/forward along the content shared by your clients, prospects and referral partners.
Let people in your network know that you care and you are interested in them personally and that you are actively supportive of their business.
Bonus Effect: Game the social network algorithms to increase your visibility while staying top-of-mind with your target market.
Share
What’s Meaningful To You?Share news stories that you find interesting.
Share content that your clients, prospects and referral partners may find useful.
What are you up to today?
What did you do yesterday?
What are you excited about?
Use paid campaigns to promote quality content.
Goal: Stay familiar with and demonstrate subject matter expertise to your network.
Grow Your Network
Attract & Seek Out New ConnectionsA healthy network is constantly growing. Each new connection adds value to your entire network.
Use social media search tools to find new contacts to follow.
Use paid campaigns to strategically attract high-value followers to your branded accounts.
Use simple techniques such as:•Add links to your social media profiles to your email signature and your website.•Add your social media profiles to your business cards and print assets.
For The Next Month
Your 30-Day Challenge
Daily Routine
1. Add Connections2. Check Social Posts Made by Clients,
Prospects, and Referral Partners3. Like, Retweet, Comment/Reply to 5 Posts4. Post a Picture or Video5. Share an Interesting News Story
PRO TIP: Download the Flipboard & Nuzzel apps for your phone.
Thank YouPresented by: Mike Langford, CEO of finservMarketing
@MikeLangford
800.888.9959
http://PearlCapital.com
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